Millennium Management LLC Has $8.11 Million Stock Holdings in Belden Inc. (NYSE:BDC)

Millennium Management LLC lifted its position in Belden Inc. (NYSE:BDC - Free Report) by 83.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,971 shares of the industrial products company's stock after acquiring an additional 32,716 shares during the period. Millennium Management LLC owned 0.18% of Belden worth $8,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. FMR LLC boosted its position in shares of Belden by 5.0% during the 4th quarter. FMR LLC now owns 4,710,224 shares of the industrial products company's stock valued at $530,418,000 after acquiring an additional 223,887 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in Belden by 0.5% in the fourth quarter. Lord Abbett & CO. LLC now owns 711,784 shares of the industrial products company's stock valued at $80,154,000 after purchasing an additional 3,692 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Belden by 2.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 695,396 shares of the industrial products company's stock valued at $78,309,000 after buying an additional 18,825 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Belden by 10.2% in the 4th quarter. Northern Trust Corp now owns 633,204 shares of the industrial products company's stock valued at $71,305,000 after purchasing an additional 58,508 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Belden in the 4th quarter valued at $54,167,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Belden

In other news, Director Gregory James Mccray sold 4,200 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $105.21, for a total value of $441,882.00. Following the transaction, the director now owns 4,199 shares of the company's stock, valued at approximately $441,776.79. This represents a 50.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Leah Tate sold 231 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $113.64, for a total value of $26,250.84. Following the sale, the senior vice president now directly owns 30,170 shares in the company, valued at approximately $3,428,518.80. This trade represents a 0.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.48% of the stock is owned by insiders.

Belden Stock Down 0.9%

BDC traded down $0.95 during midday trading on Friday, hitting $106.64. 20,757 shares of the company's stock traded hands, compared to its average volume of 274,008. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.92 and a quick ratio of 1.37. Belden Inc. has a one year low of $83.18 and a one year high of $131.82. The stock's fifty day simple moving average is $101.84 and its 200-day simple moving average is $110.28. The company has a market cap of $4.21 billion, a PE ratio of 22.15 and a beta of 1.24.

Belden (NYSE:BDC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.12. The firm had revenue of $624.86 million for the quarter, compared to analyst estimates of $615.81 million. Belden had a return on equity of 21.42% and a net margin of 8.06%. The company's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. As a group, equities analysts anticipate that Belden Inc. will post 7.07 earnings per share for the current fiscal year.

Belden Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 12th will be issued a $0.05 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. Belden's dividend payout ratio (DPR) is 3.86%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group cut their price objective on shares of Belden from $139.00 to $120.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Wall Street Zen cut shares of Belden from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 14th. Benchmark restated a "buy" rating and issued a $120.00 price target on shares of Belden in a report on Monday, May 5th. Finally, Loop Capital cut their price objective on shares of Belden from $155.00 to $145.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $126.20.

Belden Company Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.